It is a high technology world similar to what is seen in the Marvel cinematic universe but with magic taken into consideration and developed as a form of science on its own. The magic called Ether or Mana depending on the intended function and/or use tends to work similarly to alchemical sciences but mana is a form of energy that has both physical and immaterial properties depending on intended purpose and/or use. It's regarded as the fifth state of matter and can change substances into the other four states depending on the material and molecular makeup, ie. Liquid, solid, gas, plasma, or back to mana, which can exhibit the properties of all the other states of matter at once, again depending on the intended use and/or purpose. (hard magic rules for the win! :P ) In short, you can only create what you put into it. To obtain what you want, an equivalent mass and/or energy is required to achieve the intended result. If you want to create something big and complex, it's going to require a lot of heavy resources to achieve/obtain. Ultimately Mana/ether in this world is regarded as an energy source. One that is latent in the very atmosphere of the planet, but also unseen much like the very air you breath.

That said Mana is not the end-all-be-all of this world. Major events like World War 1 and 2 still happened, the events in said wars however differ greatly. Yet the outcome of said wars still remains the same. As such technology has had a chance to not only develop but surpass much of what mana in the dark ages was capable of achieving. but since magic in this world was not forgotten it managed to not only develop alongside technology, scientists eventually found a way to combine the two thus creating the very unscientifically named "Magi-tech. or Magic-based technology. Thus in many ways, the world has tech that is equal to our own, but a lot more technology that would could potentially do irreparable damage to ours if it ever appeared here.

No they don't have flying cars. Yet.